Agency
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The impact of mandatory governance changes on financial risk management
We study the impact of corporate governance on foreign exchange risk management by using a large-scale natural experiment, the adoption o
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Dividends and Taxes: The Moderating Role of Agency Conflicts
The relationship between dividends and taxes continues to be an open empirical question.
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Shareholder Conflicts and Dividends
Controlling shareholders may feel tempted to capture benefits for themselves at other shareholders’ expense.
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The Separation of Corporate Law and Social Welfare
A half century ago, corporate legal theory pursued an institutional vision in which corporations and the law that creates them protect pe
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Agency versus Hold-up: Benefits and Costs of Shareholder Rights
Many policy-makers appear to subscribe to the view that granting shareholders more rights is better.
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